First County Bank CT Cuts Holdings in Dominion Energy, Inc. (NYSE:D)

First County Bank CT decreased its position in shares of Dominion Energy, Inc. (NYSE:D) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,938 shares of the utilities provider’s stock after selling 6,061 shares during the period. First County Bank CT’s holdings in Dominion Energy were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc grew its position in Dominion Energy by 4.3% during the second quarter. TD Asset Management Inc now owns 299,390 shares of the utilities provider’s stock valued at $14,670,000 after buying an additional 12,286 shares during the period. Private Advisor Group LLC grew its holdings in Dominion Energy by 9.9% in the 2nd quarter. Private Advisor Group LLC now owns 103,907 shares of the utilities provider’s stock valued at $5,091,000 after buying an additional 9,324 shares in the last quarter. Savant Capital LLC raised its stake in Dominion Energy by 23.0% during the second quarter. Savant Capital LLC now owns 11,803 shares of the utilities provider’s stock worth $578,000 after purchasing an additional 2,207 shares during the period. Chris Bulman Inc acquired a new position in Dominion Energy in the second quarter valued at approximately $77,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Dominion Energy during the 2nd quarter worth $1,329,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Dominion Energy stock traded up $0.53 during trading hours on Tuesday, hitting $54.19. The stock had a trading volume of 2,256,314 shares, compared to its average volume of 3,232,962. The stock has a market capitalization of $45.52 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.44 and a beta of 0.60. Dominion Energy, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The stock’s fifty day moving average is $56.20 and its two-hundred day moving average is $55.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Dominion Energy’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were issued a $0.6675 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.93%. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Analysts Set New Price Targets

A number of research firms have commented on D. Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley initiated coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Barclays upped their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.